MyFiziq continues to ink agreements with high profile fitness groups

|

Published 20-OCT-2020 10:17 A.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

MyFiziq Limited (ASX: MYQ) has signed definitive agreements with MVMNT Inc. (MVMNT), the digital delivery arm of FitLab LLC.

As MyFiziq’s flagship technology will be integrated into MVMNT’s core mobile technology platform, its solution will be made available to all subscribers within MVMNT’s branded digital training experiences.

Of course, this builds on numerous other collaborative agreements negotiated by MyFiziq in 2020, including the game changing agreement with Nexus-Vita Pte Ltd, a Singapore-based health monitoring and management technology group.

The positive impact these have had is reflected in the company’s share price which has increased ten-fold in the last six months.

The first MVMNT partners to integrate MyFiziq’s technology include Floyd Mayweather Boxing and Fitness, McGregor Fast by Conor McGregor and Fitocracy.

With a current combined Instagram reach of over 50 million people globally between Floyd Mayweather and Conor McGregor, MVMNT is confident in the potential of its digital training offerings and the additional value that will be brought to fitness consumers by the integration of the MyFiziq technology.

The contracts that are the subject of definitive agreements include a commercial contract, a data processing agreement, a Software Development Kit End User License Agreement and a support agreement.

For more about MYQ read: NASDAQ Listing a Step Closer as MYQ Secures $5M to Forge Forward

MyFiziq to receive fee-based income

The MYQ Commercial Contract is the main commercial agreement between the parties which includes the grant of a licence to MVMNT to use MYQ’s licensed software development kits and related intellectual property to integrate them into the MVMNT platform/technology.

In return, MVMNT has agreed to pay certain user fees, data storage fees, and support fees to MYQ.

While MYQ does not expect any immediate material financial return as a result of entering into these agreements, management expects to start generating licence and other fees from the commercial arrangement in the future.

The initial term of the contract is for two years with the option to renew for 12 month periods in future years.

Under the terms of the Definitive Agreements, MyFiziq will be paid the following volume-based pricing.

Where new opportunities arise, separate additional commercial contracts shall be created with specific terms, including pricing terms as mutually agreed by both parties.

Initial target user numbers under the agreements indicate that MyFiziq could generate material revenues from this collaboration.

Targetted monthly user numbers for Fitocracy (500,000), Mayweather Boxing & Fitness (410,000) and McGregor F.A.S.T (250,000) equate to a combined monthly rate of 1.16 million active users.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X